There is arguably no more vital issue across South Louisiana than replenishing our state's eroding coastline. The rapid degeneration of coastal marshes, beaches and barrier islands is putting hundreds of thousands of residents, homes and businesses at increased risk from hurricanes and tropical storms.

"Our region has a take-it-or-leave-it opportunity to make strategic investments in the environment today that will ensure continued economic growth and opportunity tomorrow," Michael Hecht, president and CEO of Greater New Orleans Inc., said Friday in a written statement.

The coalition board includes top executives from an array of businesses, including banking, real estate, shipping, manufacturing and major law firms. The list includes Saints and Pelicans owner and vice chairwoman Rita Benson LeBlanc, former Louisiana Recovery Authority member Donna Fraiche and other key leaders in greater New Orleans, Baton Rouge and Terrebonne and Lafourche parishes.

This is a high-powered and influential group of people, and it is good to see them take on such a crucial issue. The effort is being funded by the Walton Family Foundation.

Marty Mayer, president and CEO of Stirling Properties and chairman of the coalition board, put the moment in perspective. "With the coming influx of funding from the Restore Act and other oil spill related settlements, we have a unique opportunity to ensure the continued prosperity and sustainability of Southeast Louisiana. The issues ahead of us are more than just environmental challenges -- they are economic, civic and cultural," he said.

The coalition plans to focus in part on making sure Restore Act funding from federal fines levied against BP for the 2010 oil spill are spent for restoration here, as they are supposed to be.

That is essential. Louisiana lawmakers agreed in 2012 to use the money for the coast, but they have refused since then to strengthen protections for Restore Act money and the state's Coastal Trust Fund. At this point, a simple majority vote of lawmakers could allow the state to tap into the money.

It would be a huge mistake to divert Louisiana's share of BP fines to anything other than coastal needs.

The final leg of the civil trial of BP and its partners in the Macondo well is scheduled to begin Jan. 20, 2015, to determine how much the Clean Water Act fines will be. Estimates have ranged from $5 billion to $20 billion. Congress agreed in the Restore Act to send at least 80 percent of the money to the five coastal states affected by the BP disaster -- Louisiana, Alabama, Mississippi, Florida and Texas.

"Implementing the Coastal Master plan is a necessity because we are at the end of the line when it comes to saving our coast," said Dale Benoit, owner of Print-All Inc. and a coalition board member.

Board member Tara Hernandez, president of JCH Development, said that as a real estate developer in New Orleans she sees the broad impact of coastal erosion. "The economic impact, regional sustainability and cultural heritage of our coastal communities are integrally linked to the health of our metropolitan areas and it is time for the broader business community to make a meaningful impact on this issue."

She's right, and it is encouraging to see that happening.

Louisiana has lost a frightening amount of coastal land -- a trend that threatens entire communities. It will take a mighty effort to reverse that land loss.

This coalition has the potential to bring a new level of attention and resources to the problem. It is a necessity, said Brandon Nelson, vice president of Commercial Banking at Whitney Bank, "to ensure our children's children will be able to call this place home."